Tax Fairness for Americans Abroad Act

Yesterday afternoon, in the midst of all sorts of border wall funding related chaos across Capitol Hill, Rep. George Holding (R-NC) introduced the Tax Fairness for Americans Abroad Act HR 7358 on the floor of the U.S. House of Representatives. The bill would enact a switch from our current system of citizenship based taxation to residency based taxation, a move that would benefit nearly all Americans living abroad.

Though the bill is not perfect, it is a milestone in our expat tax advocacy work; we now have a legislative framework for refining and clarifying work in the 116th Congress on a bill implementing residency based taxation that will satisfy our key ambitions, including: accommodating of all Americans abroad, easy to transition into, protected from abuse by tax evaders and bad actors, and revenue-neutral to the federal government.

As our statement says, we have liaised continuously with House Democrats on the development and introduction of the bill and we look forward to picking this up with them again in January.